Guideline Value for Karikalan Street Main

Karikalan Street Main guideline value

The current guideline value of Karikalan Street Main is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Karikalan Street Main has changed

The guideline value for Karikalan Street Main has seen significant changes over the years. In 2003, the guideline value was Rs 750 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a 60% rise. The value then surged dramatically to Rs 3,500 per sq.ft in 2012, reflecting a 192% increase. However, it dropped to Rs 2,345 per sq.ft in 2017, which was a decrease of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,900 per sq.ft, an 11% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 420%. It is important to note that the register has no figure for this street for the year 2002.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is the same as the current value for Karikalan Street Main.

• Karikalan East 2nd Street (East Karikalan 2nd street): Rs 3,900 per sq.ft (2024)
• Karikalan East 1st Street (East Karikalan Ist street): Rs 3,900 per sq.ft (2024)
• Karikalan 5th Street: Rs 3,900 per sq.ft (2024)
• Karikalan 4th Street: Rs 3,900 per sq.ft (2024)
• Karikalan 1st Lane: Rs 3,900 per sq.ft (2024)
• Karuneegar Street (Main): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Karikalan Street Main

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty, charged at 7%, would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Karikalan Street Main?

The Sub Registrar Office that covers Karikalan Street Main is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Adambakkam

When buying or selling property in Adambakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a benchmark for calculating these fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the property registration process. This value is regularly updated, reflecting changes in the real estate market.

Frequently asked questions

What is the current guideline value of Karikalan Street Main?

The current guideline value of Karikalan Street Main is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 750 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 420% over this period.

What is the stamp duty for property in Karikalan Street Main?

The stamp duty for property in Karikalan Street Main is 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,73,000.

Where is the Sub Registrar Office for Karikalan Street Main located?

The Sub Registrar Office for Karikalan Street Main is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Karikalan Street Main?

Karikalan Street Main is classified as Residential Class I Type - III, indicating its suitability for residential development.